PayPal's partnership follows a similar deal with MasterCard's larger rival Visa Inc in July as the company looks to expand its payments network.
• As part of the deal, MasterCard will allow PayPal users to withdraw cash from their accounts using a debit card and also waive the digital wallet fee it currently charges PayPal.
• The two companies have an existing partnership for co-branded consumer credit cards in the United States and Puerto Rico.
• PayPal, spun off from e-commerce company eBay Inc last year, has focused on aggressive growth.
• The company's revenue in the second quarter rose more than 15 percent to $2.65 billion from a year earlier and the volume of payments it processes jumped 28 percent to $86.21 billion.
• PayPal is also in discussions with banks that issue cards, to explore new products and partnerships, the Journal report said, citing people familiar with the matter.

A cargo train left south China's Guangzhou City for Vorsino, Kaluga Region (113 miles south-west from Moscow) on Aug. 28 , China’s Xinhua reported.
• It is the latest freight train route China has launched to boost trade ties along the ancient Silk Road.
• The train will travel 11,500 km over 14 days before reaching its destination.
• Its cargo includes garments, shoes, hats, cloth, lamps and lanterns, electrical appliances, and electronics.
• According to Xinhua, Guangzhou, capital of Guangdong Province, has traditionally depended more on maritime freight services.
• The new cargo train service saves 30 days compared with shipping services, and it costs just a fifth of the price for air transportation.
• Russia’s Kaluga Region has set up a major logistics center in the Vorsino industrial park to handle 150,000 to 350,000 containers a year, the Russian media report.